The Business Facilitation (Miscellaneous Provisions) Bill 2022, also known as the Omnibus Bill, was signed into law by President Muhammadu Buhari.
In a statement issued on Monday in Abuja, Dr. Jumoke Oduwole, Special Adviser to the President on Ease of Doing Business and Secretary, Presidential Enabling Business Environment Council (PEBEC), said this.
According to Oduwole, the bill will make it easier for small business owners in the country to do business.
” This marks an important step in the delivery of an enabling environment for micro, small, and medium-sized enterprises (MSMEs) in Nigeria.
“Presented as an Executive Bill, the Business Facilitation (Miscellaneous Provision) Act, 2023 is a legislative intervention by the PEBEC which
amends 21 business-related laws.
“It removes bureaucratic constraints to doing business in Nigeria.
“The new law also codifies the Executive Order 001 on Transparency and Efficiency in Public Service Delivery, the Administration’s first executive order, aimed at strengthening ease of doing business reforms across the country,” she said.
Oduwole said that the PEBEC Secretariat was extremely grateful to see this Act come to fruition.
According to her, it is a culmination of over four years of collaboration between public
and private sector stakeholders.
“This includes the Federal Ministry of Justice, the Nigeria Bar Association Section on Business Law through the participation of over 40 law firms and consulting firms.
“The Nigerian Economic Summit Group (NESG), and the National Assembly Business Environment Roundtable (NASSBER) are also part of the team,” she said.
The PEBEC secretary said the Business Facilitation Act, of 2023 consolidates the last seven years of PEBEC-led reforms.
Oduwole said it also demonstrated the Administration’s sustained commitment to making Nigeria a progressively easier place to start and grow a business.
